Taxes

A Brief Reminder That Trump is a Delusional Idiot

JM Ashby
Written by JM Ashby

I'm sure no one needs to be reminded that Trump has absolutely no idea what he's saying or doing, but according to the Washington Post he's been telling lawmakers in private that his tax cuts for the rich will lead to 6 percent economic growth.

Trump told a group of Democrats and Republicans on Tuesday that the tax framework could lead the economy to grow more than 6 percent a year, more than double what even his advisers had hoped for and a rate that many economists say is preposterous.

These proposals will be targets, not set-in-stone demands. Lawmakers are expected to debate and negotiate tweaks, leaving the figures open to multiple changes.

"Preposterous" is certainly a word for it.

Trump's own cabinet, including treasury secretary Steve Mnuchin and top economic adviser Gary Cohn, have set a slightly less delusional but probably impossible growth target of 4 percent. Trump's cabinet has also been pushing slightly less insane tax rates than Trump has called for but, make no mistake, the GOP's "tax reform" blueprint is a plan for bankrupting the nation. More on that shortly.

Trump is going to talk about their plans today and I expect he'll include the ridiculous 6 percent growth target. I suppose that will be a fun video clip to play back next year. You know, assuming we're all still here.

  • No one actually knows how to make an economy grow. We what sort of things lead to economic growth, but not how to make them happen– unless your country has no modern development. In that case it’s a sort of paint-by-numbers, but after you’ve pushed beyond middle income, we dunno. But the nature of politics is such that people who have real decision making power can never admit that. Not just in democracy, that is true of every system. Unless the guy on the throne wants to be pushed off.

    • Badgerite

      One thing is known. You need to have large numbers of people who have the resources to purchase things.
      Products. Homes. Entertainment. Meals. We have called that the “middle class”. And a confident, secure and prosperous middle class will spend money. And the fact that there are people willing and able to spend money will fuel production. Those are basic facts. The more the GOP eviscerates the middle class, the less likely oodles of cash and a few pockets is going to spur economic growth. That just seem sort of basic to me.

      • That’s what drives me insane. Surely rich people know that without a vigorous middle class, their businesses are at risk. I guess their greed blinds them.

      • Right, that part is well understood and it is basic. But even middle income communities can stagnate. The rich have very little to do with economic growth because they don’t have the numbers of people.

    • Aynwrong

      Unfortunately, no one can be told what the Matrix economy is. You have to see it for yourself.

  • Draxiar

    Straight from the trump playbook: Make ludicrous promises that other people have to keep and when they can’t because, y’know, reality, then blame them for their failure.

  • muselet

    The average GDP growth in the US for the past seventy years is 3.2%. The last time it was over 6% was in 1984. Yet Donald Trump and his economic advisers think cutting the taxes of rich people and corporations will yield sustained 6% growth.

    Those magic asterisks are becoming more magical by the moment, aren’t they?

    –alopecia

    • Maybe by the end of the year they’ll start granting wishes. I wish to be taller.

  • Aynwrong

    Oh come on JM, all Trump has to do is push the mystical grow the economy button, say a prayer to free market Jebus, wait for trickle down fairy dust to blanket Real Murica and cause jobs to magically sprout from the dirt.

    That’s how the economy works isn’t?

    • muselet

      Write that on a napkin—minus the sarcasm—and you’ll never have to work another day in your life. Just ask Arthur Laffer.

      –alopecia

      • Don’t forget he also needs to kiss pustule covered the ass of someone like Bannon. Then and only then can he cash in on that sweet, sweet “wingnut welfare”.

      • Aynwrong

        HA!

    • That’s how the economy works isn’t?

      Only in Wingnuttistan!

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